Three days ago I stated that Duff & Phelps that would publish a report after the Wednesday deadline and it that would clearly spell the end for Rangers.
These figures mean one thing: liquidation.
No doubt the succulent lamb chaps will try and put a positive spin on these figures.
Rangers’ administrators have revealed the club owes at least £55m to 276 creditors.
Duff & Phelps say that Rangers have been running at a “substantial cash shortfall” since going into administration on February 14.
In the period 14th February to 30th March 2012, Rangers had a £2.5m trading shortfall.
That means they spent £2.5m more than they brought in.
The reality is that this company is finished.
Only a sugar daddy of Abramovich proportions willing to fund the club as a toy can save the day now.
So far no one has applied for that job.
Unless someone does then Rangers (est. 1873) and all their “illustrious” history will soon be dead.